Precious metals posted strong gains for a second straight session Tuesday, led by silver which jumped 3.6% to end at a one-week high.
Gold for December delivery advanced $20.90, or 1.1%, to settle at $1,903.20 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s highest since last Tuesday, Sept. 22.
"The dollar has emerged as the single biggest influence on gold recently…and the fact that the greenback fell from two month highs [Monday] offered gold a tailwind," analysts at Sevens Report Research wrote in a Tuesday newsletter according to MarketWatch.
Gold futures ranged from a low of $1,880.80 to a high of $1,904.80. They rose 0.9% on Monday. On Friday, they closed at their lowest price since July 22.
Silver for December delivery soared 84.1 cents to close at $24.445 an ounce. Like for gold, the settlement was the highest for silver since Sept. 22. Silver futures traded between $23.51 and $24.55. They surged 2.2% on Monday. On Friday, they ended at their weakest price since July 22.
In other precious metals futures prices on Tuesday:
January platinum added $6.30, or 0.7%, to $897.70 an ounce, ranging from $880.70 to $899.50.
- Palladium for December delivery tacked on $57.80, or 2.5%, to $2,329.30 an ounce, trading between $2,261.30 and $2,336.60.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold added $19.65, or 1.1%, to $1,883.95 an ounce.
- Silver jumped 94.5 cents, or 4.1%, to $23.835 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Tuesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday / This Week||Last Week||July||August||September||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||9,500||107,500||104,000||18,500||557,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||4,000||10,000||3,000||58,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||10,000||20,000||4,000||88,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||35,000||70,000||10,000||290,000|
|$50 American Buffalo 1 Oz Gold Coin||0||3,000||30,000||28,000||4,500||188,500|
|$1 American Eagle 1 Oz Silver Coin||0||517,000||1,084,500||4,477,000||1,888,000||20,066,000|
|America Samoa 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Weir Farm 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Salt River Bay 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Marsh Billings 5 oz Silver Coin*||0||0||45,000||0||0||45,000|
|Tallgrass Prairie 5 oz Silver Coin*||0||45,000||N/A||N/A||45,000||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||56,500|